I don't know for sure on the Camaro clip yet but on a friend's 90s caprice we fit 7" bags up front with plenty of frame pocket left (the Camaro clip looks very similar to the caprice front end)
Is the s10 frame pocket the same size as the camaro's?
Im still planning to fit 7's on mine, the ride will be worth it.
*edit... I did a quick Google search, there are quite a few running 7s on the s10s too
www.s10forum.com
With a small block the bags will require alot of pressure to get a decent ride height. The better ride and less psi are worth it IMO.